On Wednesday evening, at a glittering media function at Taboo in Sandton, Johannesburg, the Cape Thoroughbred Sales company (CTS) stunned the South African thoroughbred horse racing and breeding industry with the announcement that it will be hosting the first Million Dollar race in Africa!
Known for its out-of-the-box thinking, CTS, who annually hosts the innovative inner city sale, the Cape Premier Yearling Sale, has taken another quantum leap in announcing Africa’s richest race for graduates of the 2014 Cape Premier Yearling Sale and the 2014 CTS March Yearling Sale.
With a staggering value of $1 000 000, the race far surpasses the current richest race in Africa, the R3.5 million, Vodacom Durban July. CTS Chairman Chris van Niekerk announced that the prize money will be split over the first five places, with the winner receiving $500 000, 2nd place $200 000, 3rd $150 000, 4th $100 000 and with $40 000 to the 5th placed horse. The vendor of the winning horse will receive $10 000 as well.
In what must be the biggest return on investment ever seen, Van Niekerk went on to explain that for the 2014 Cape Premier Yearling Sale, the buy-in would be a mere R5 000 per horse for the buyer, with no cost to the vendor and for the 2014 CTS March Yearling Sale, the buy-in would be R5 000 per horse for the buyer and R5 000 for the vendor. From 2015 onwards, the buy-in for both buyer and vendor at the Cape Premier Yearling Sale will be R15 000 each per horse, while the buy-in at the CTS March Yearling Sale will be R10 000 per horse for both buyer and vendor.
The first Million Dollar race in the history of South African racing is scheduled to be run over 1400m at Kenilworth Racecourse in January 2016 and will only be open to graduates from the 2014 Cape Premier Yearling Sale and the 2014 CTS March Yearling Sale.
CTS has certainly taken the South African thoroughbred industry by storm. Innovative and always trying to find new ways to improve, it is certainly not afraid of challenging the status quo. In the two years since the Company’s inception, CTS has completely rewritten the rulebook on thoroughbred sales, and if the latest announcement is anything to go by, there will be plenty more to look forward to.